Explore ways to build a better customer experience with conversational AI
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Does money talk? Large language models require more than just money
What does it take to train a large language model? This month, The Information reported that OpenAI spent over $120MM in two years on cloud computing, primarily training large language models. This is a staggering outlay for a company that was, at the time, still in closed beta. For comparison, Lyft and Slack each committed… Read more

Health insurance leader discovers that Gridspace Grace outperforms humans, other virtual agents
Gridspace Grace came out on top as the preferred choice when compared with other voice assistants, an extensive survey has revealed. In fact, respondents were so impressed by the industry-leading virtual assistant that a majority said they rated Grace’s performance higher even than that of human assistants. Read more

What HCOs need to know to navigate the future of healthcare
Healthcare is changing like never before. And we don’t need to look far to see why. Problems caused or exacerbated by the pandemic, most notably staffing shortages, have combined with an aging population and high levels of chronic disease—and the associated rising costs—to produce a perfect storm for healthcare organizations. When we dig into the… Read more

Close clinical trial DEI gaps and improve patient engagement via virtual agents
Stakeholders across the clinical trial ecosystem have committed to addressing healthcare disparities and working together to increase diversity, equity and inclusion (DEI) efforts for clinical trials. In 2020, the US Food and Drug Administration (FDA) issued finalized guidance to enhance the diversity of clinical trial populations. Other industry organizations are also putting forth programs and… Read More

Proactively engage patients with automation that improves the clinical trial experience
Patient recruitment is both critical to ensure qualified enrollment in clinical trials and a huge investment for companies. Fully one-quarter of the cost of a clinical trial is assigned to patient recruitment. With so much invested in recruitment, patient retention is critical to managing costs and obtaining the data needed for regulatory submission. The failure… Read More

DEI in clinical trials
Health equity demands that clinical trial participants include a wide range of patients from diverse communities. This not only helps to reduce biases, it also contributes to more innovative science. Because people often experience disease differently, clinical trial enrollment needs to reflect diversity in race, ethnicity, sex and, often, age, in order to ensure that… Read More
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Accelerate service for policyholders and alleviate the need for in-person trained staff
Recent research shows that consumers’ insurance priorities evolved during the COVID-19 pandemic. In addition to consumers growing increasingly concerned about their financial security, their expectations of insurance packages changed as they sought out new types of products and offerings. The days of one-size-fits-all policies are gone; in its place is interest in policies that are… Read More

Accelerate the customer
credit card application process and improve the customer experience
For credit card issuers, time is money. Lengthy, time-consuming application processes can discourage consumers from successfully completing applications, and that has a direct impact on the bottom line by driving up acquisition costs—which already average $200 per customer. The competition for credit card customers is intense, and issuers are investing more than ever to acquire… Read more

There’s no time to waste when it comes to customer care
Waiting on hold to speak with a service agent just doesn’t cut it these days. Speed and convenience matter to customers more than ever. And by “speed,” we’re talking five minutes max for a reply online, or for an agent to pick up a call and initiate the response. That’s certainly the view taken in… Read more

Credit card issuance
The competition for credit card customers is intense and issuers are investing more than ever to acquire customers. This year, the largest issuers anticipate increasing their marketing spend close to 35% as they seek to attract new customers.¹ With an average cost of around $200 to acquire a credit card consumer, and many more times… Read More

Credit card fraud happens… don’t let it result in unhappy – or lost – customers
It’s a consumer’s worst nightmare—credit card fraud. And as cashless transactions become more common and e-commerce sales grow, it’s more prevalent than ever. In fact, 2020 saw a 44% rise in credit card fraud over the previous year, according to the Federal Trade Commission. Due in part to the global pandemic, as well as changing… Read more

KYC/AML checks
Know your customer (KYC) and anti-money laundering (AML) processes are designed to ensure that customers are who they say they are and prevent criminals from depositing or transferring funds that result from illicit activity. This critical function helps banks evaluate customer risk and avoid compliance mistakes. Failure to comply with AML regulations can have significant… Read more

P&C policy changes
Recent research from EY shows that consumers’ insurance priorities have evolved during the COVID-19 pandemic.¹ Consumers have grown increasingly concerned about their financial security and less accepting of one-size-fits-all insurance packages. Even as consumers’ needs change and they embrace a digital customer experience, speaking with a human agent on the phone remains the preferred method… Read More

Initiating fraud holds
From 2019–2020, there were nearly 400,000 reports of credit card fraud, according to the Federal Trade Commission—a 44% growth over the previous year. This multibillion dollar crime continues to grow as consumers flock to online shopping channels, a trend that was exacerbated by the recent global pandemic. Credit card fraud attempts increased 35% in 2020… Read more

The secret’s out: Gridspace gains “gold standard” security certification
Protecting client information is of the utmost importance to the Gridspace team. We take privacy and security seriously and respect the data that’s kept with us. And we can now announce that this commitment to attaining the highest standards has been officially recognized, with Gridspace receiving Certified Status for information security and compliance from the… Read more

Accelerating conversational AI with Gridspace and Graphcore
As part of a strategy to partner with highly innovative technology companies, Graphcore is collaborating with Gridspace to drive innovation in conversational artificial intelligence (AI). Envisioning a contact center automation platform accelerated by intelligence processing units (IPUs), engineers at Graphcore and Gridspace are working together to explore IPU-based voice applications toward the goal of human… Read more

Eliminate prior authorization delays and inefficiencies to improve the patient experience and outcomes
Prior authorization is the most costly, time-consuming administrative transaction for providers.¹ At the same time, prior authorizations for everything from prescriptions to screening to treatments are increasing, increasing the burdens on physicians and staff who are stretched thin and focused on delivering patient care and a positive patient experience. While it’s an unwelcome administrative reality… Read more

A better patient referral process can improve care and increase the bottom line
Ninety-six percent of healthcare executives say patient leakage is a priority, with lost revenue amounting to close to $1 million per physician per year. While the failure to schedule and attend referral visits has substantial financial consequences for providers and healthcare systems, the impact on patient care is also significant. Referrals are integral to managing… Read More